Where does money you spend on Powerball tickets go?
INDIANAPOLIS, Ind. (Jan. 11, 2016) — As Hoosiers cash in once again in hopes of winning the record Powerball, CBS4 took a look at what all of the money being spent on tickets goes to fund.
The jackpot has ballooned so big that the $1.4 billion and growing doesn’t even fit on the Hoosier Lottery’s signs. Inside the Marathon in Whitestown, cashier Teresa Eads was hoping she would sell that magical winning ticket.
“They always say they’ll come back and tip me but that’s been for two years and not one person’s come back yet,” Eads said.
As the lines to buy a ticket grow, the Hoosier Lottery told CBS4 that the $2 spent on each ticket will be split up into pieces. One piece goes to the winner, another goes to the lottery itself to pay for things like production and marketing, and the final profit goes to Indiana. A lottery spokesperson could not provide the exact number of profit per ticket.
In the case of a Powerball in which no one wins, the portion that would have gone to the winner also goes back to Indiana.
Last year, the lottery handed over $242 million to the state of Indiana. It automatically contributes $30 million to a fund for teachers pensions dating back before 1996, as well as another $30 million to police and fire pensions not covered by the state. The rest of the money, totaling $182 million last year, went into the Build Indiana Fund. That fund goes to state programs, as well as local projects.
Katie Aeschliman, who bought four tickets Monday, said she does think about the money she’s spending.
“I think some (money) should come back. I think that’s a good thing, we have lots of needs,” Aeschliman said.
Others who are new to the Powerball, like Marie Williams, said it was something they’d like to learn more about.
“I usually don’t buy a lottery ticket but I thought, what the heck. … I want to look into that now,” Williams said.
Either way, the money is pouring into the pot, and Eads is hoping someone will win and keep her promised tip in mind.
“Maybe one of these days,” Eads said.
For more information about the money contributed to Indiana funds, click the link here to read the Indiana State Budget Agency’s latest report.